Imagine living in a community where the only economic distinction between one person and another is how much time they spend helping others. Imagine a place where people are able to engage with one another in new and exciting ways each day and everyone in town is known for their special skill or talent. Imagine a time-based currency, where one hour of work equals one service credit.
In economics, a time-based currency is an alternative currency where the unit of exchange is the hour.
Time-based currencies value everyone’s contributions equally. One hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer.
(Wikipedia entry)
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